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    123 S Union St, Unit Traverse City Traverse City, MI 49684

    For Sale
    $2,950,000

    Four-story building with redevelopment potential in downtown Traverse City.

    Property size:
    20 SF

    Property Features for 123 S Union St

    General Information

    Size
    20 SF

    Building Details

    Year built
    1900

    Source: Dan Stiebel Agent Dan Stiebel

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Building in Downtown Traverse

    This four-story building, featuring three mezzanines and hardwood floors on the upper levels, presents an opportunity for redevelopment or continuation of the historic Wilson's Antiques business. Located in downtown between Front Street and the new Rotary Square on State Street, the property benefits from a central location. The second floor features high ceilings and an original tin ceiling. Fire sprinklers are installed throughout the building, making mixed-use redevelopment a possibility. Potential uses include a boutique hotel, retail on the first floor with residential condominiums above, or continuation as an antique store. The current zoning allows for both short-term and long-term rentals. An elevator services the main levels, but not the mezzanines.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wilson Antiques Antique Store Bay West Precious ... Gold Dealer Bay West Antiques Antique Store

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Darling Botanical Company, Mourning Wreaths, The Flower Station

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6235849
    Latitude
    44.7631639

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    FAQs

    What type of property is this?
    Storefront property - Four-story building with redevelopment potential in downtown Traverse City.
    Where is this storefront property located?
    The property is located at 123 S Union St, Unit Traverse City Traverse City, MI.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: - Prime downtown location between Front Street and Rotary Square.; - Redevelopment potential for mixed-use, boutique hotel, or retail/residential.; - Existing fire sprinklers throughout the building.
    (231) 633-0432
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    123 S Union St, Unit Traverse City Traverse City, MI 49684
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